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Summary Third Quarter Results Release
Aug 02, 2007 (08:08 AM EDT)
PLYMOUTH, Mich. and HAMBURG, Germany, Aug. 2 /PRNewswire-FirstCall/ -- ROFIN-SINAR Technologies Inc. , one of the world's leading developers and manufacturers of high-performance laser beam sources and laser- based solutions, today announced results for its third fiscal quarter and nine months ended June 30, 2007.
Net sales totaled $121.4 million for the third quarter ended June 30, 2007, an 11%, or $11.8 million increase over the comparable quarter of fiscal year 2006. The weakening of the US-dollar, mainly against the Euro, resulted in an increase in net sales of $5.9 million in the third quarter. Gross profit totaled $51.7 million, compared to $46.9 million in the same period of fiscal year 2006, and remained at 43% of net sales. Net income amounted to $14.3 million, or 12% of net sales, compared to $12.9 million, or 12% of net sales, in the same period last year. Diluted earnings per share equaled $0.90 for the quarter, based upon 15.9 million weighted-average common shares outstanding, compared to diluted earnings per share of $0.82 based upon 15.7 million weighted-average common shares outstanding for the same period last fiscal year. The third quarter net income was impacted by $1.2 million SFAS 123R stock-based compensation expense.
SG&A increased by $1.8 million to $22.1 million, representing 18% of net sales. In addition, the amortization expense in the third quarter of fiscal year 2007 increased by $0.2 million over the comparable period last year to $1.1 million (1% of net sales) because of the recent acquisitions of m2k- Laser, Corelase and ES Technology. Also, net R&D expenses increased by $1.2 million to $7.4 million, representing 6% of net sales.
Compared to the third quarter ended June 30, 2006, net sales of laser products for macro applications increased by 20% to $63.9 million, while net sales of lasers for marking and micro applications increased by 2% to $57.5 million.
In the first nine months net sales in North America decreased by 14% and totaled $82.0 million (2006: $95.4 million). In Europe/Asia, net sales increased by 28% to $267.2 million (2006: $209.4 million).
Order entry for the third quarter was $132.5 million, which resulted in an order backlog on June 30, 2007, of $113.6 million mainly for laser products.
The full text press release and further information including comprehensive financial data is available online at www.rofin.com - Investor Relations - Press Releases.
CONTACT: Katharina Manok or Gunther Braun, both of Rofin-Sinar,+1-734-416-0206, or +49-40-733-63-256
Web site: http://www.rofin.com/